Republicans Push to End Muni Bond Sales by Businesses, Stadiums

Congressional Republicans proposed barring the sale of municipal bonds for professional sports stadiums and privately run infrastructure projects such as toll roads and airports, a step that’s at odds with President Donald Trump’s push to increase funding for public works.

The tax-cutting bill released Nov. 2 would also eliminate advanced refundings of debt issues, a popular refinancing technique with state and local governments, as well as bonds backed by federal tax credits. If enacted, the proposals would cut the amount of municipal debt sold each year by billions of dollars and potentially boost demand for the bonds.

“If you reduce ...